Resilience's research reveals that 47% of enterprises encountered major disruptions from vendor-related breaches in the previous year, pointing to a critical oversight in risk assessment. While 83% of surveyed businesses claim to be familiar with their third-party vendor systems, a mere 35% feel confident that their due diligence successfully mitigates these risks, particularly in smaller firms. The report underscores the growing vulnerability of mid-sized companies to large-scale vendor outages, highlighting the need for improved risk management strategies across all business sizes.
Nearly half (47%) of enterprises experienced significant disruptions from vendor-related breaches last year, emphasizing a critical blind spot in their risk management.
While 83% reported being familiar with third-party systems, only 35% trust the effectiveness of their vendor due diligence in mitigating cyber risks.
Smaller businesses felt the disconnect more acutely, with only 24% of those under £250 million turnover viewing vendor due diligence as effective.
Resilience's CEO highlighted a troubling gap in understanding and preparedness for third-party risks, calling cyber risks a pressing financial issue.
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